How to make money ONLINE with currency converter and currency exchange - What is Forex?

if you have ever traveled to a foreign

country you may have needed to exchange

your money if so you've already

participated in forex trading Forex is

the short form of foreign exchange

well Forex is a bit more than that

for example companies buy goods from

other countries in order to buy them

they need to obtain the local currency

first just like us when going on holiday

the difference is they will exchange

huge amounts when these companies

exchange these huge amounts they will

actually move the price because the

demand for the currency that they need

increases when the demand increases the

price increases with all this exchanging

going on around the world the exchange

rates constantly move this is how it

works when currencies are exchanged they

have a certain price the exchange rate

as in any market the price of a currency

is determined by the law of supply and

demand if there are many people or

companies that want to change euros into

dollars the price of the dollar will

rise against the euro and so the

exchange rate will change let's use an

everyday example to explain how you can

actually profit from this say you live

in Europe and went on holiday to the

United States let's say that you've

changed your 500 euros into US dollars

at the rate of 1 point 4 dollars for

every Europe you got 700 US dollars but

you do not spend any money at all so you

still have 700 dollars after you come

back after the exchange rate moved from

1.4 to 1.3 instead of getting just 500

euros back you actually get 538 and 1/2

euros you have gained 38 and a half he

rose simply from holding your money and

dollars while the exchange rate changed

this is essentially how we trade in the

forex market we buy a certain amount of

a currency hold on to it whilst the

exchange rate moves then change it back

making money along the way how to decide

when the right time to buy and sell is

exactly what we teach you throughout the

rest of our learning lesson

as you can imagine traveling a lot and

saving a bit of money on your holiday

budget and then exchanging it it's not

really a practical approach to trading

currencies fortunately there is an

easier way to do this you can trade

currency through online exchange offices

called brokers what this means is that

you can exchange currencies online

throughout the day and take advantage of

the constantly fluctuating exchange

rates just as in the example of when you

went on holiday you combine different

currencies and make a profit as the

exchange rates change this is trading

the forex market trading Forex online

with a broker has many benefits

you can trade Forex from your home or

anywhere that you have an internet

connection the forex market never sleeps

it is open 24 hours a day 5 days a week

and so can suit your daily routine you

do not need a huge budget to get started

as little as a hundred and fifty dollars

is enough to begin trading and building

your account over time of course it will

require some learning until you get

there but this is exactly what trade MO

is here for to help you learn how to

trade in a way that can suit your

individual lifestyle and to help you

navigate your way through the forex